Daily and weekly Hammers at October's 16 month low near 6000.0 have signalled a recovery, a rally which at this stage is potentially corrective. However, with last week's rally ending a sequence of lower weekly highs, signals for this week continue to point higher. With this in mind, this week's call call is Bullish but to leave room to Buy a Dip to 6292.5, Thursday’s base.
The risk is 6198.5, last week's low, and the immediate target is 6475.0, a 50% correction of the fall from Sept’s top. A move above that level then targets 6561.0, the 3 week high, or even 6645.0, the 5 week close
